Royal Bank Of Canada Reiterates Hold Rating for Macy’s Inc (M)
Macy’s Inc (NYSE:M)‘s stock had its “hold” rating reaffirmed by equities researchers at Royal Bank Of Canada in a research note issued to investors on Monday. They presently have a $23.00 target price on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 1.86% from the company’s previous close.
Several other equities research analysts have also commented on M. Jefferies Group LLC reaffirmed a “hold” rating and set a $21.00 price target (down previously from $24.00) on shares of Macy’s in a research report on Friday, August 11th. Cowen and Company reaffirmed a “market perform” rating and set a $23.00 price target (down previously from $26.00) on shares of Macy’s in a research report on Friday, August 11th. Deutsche Bank AG upped their price target on shares of Macy’s from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) reduced their price target on shares of Macy’s from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, June 7th. Finally, BMO Capital Markets set a $36.00 price target on shares of Macy’s and gave the company a “buy” rating in a research report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $27.63.
Macy’s (NYSE M) traded down 1.77% during trading on Monday, hitting $22.18. 5,256,203 shares of the stock traded hands. Macy’s has a 52-week low of $19.32 and a 52-week high of $45.41. The company has a market cap of $6.76 billion, a P/E ratio of 10.08 and a beta of 0.83. The firm has a 50-day moving average price of $21.64 and a 200 day moving average price of $25.07.
Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, August 10th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities analysts expect that Macy’s will post $3.38 EPS for the current year.
In other news, Director John A. Bryant bought 9,825 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was purchased at an average cost of $20.32 per share, for a total transaction of $199,644.00. Following the transaction, the director now owns 9,825 shares of the company’s stock, valued at $199,644. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Penserra Capital Management LLC boosted its position in shares of Macy’s by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock valued at $109,000 after acquiring an additional 320 shares during the last quarter. Ffcm LLC boosted its position in shares of Macy’s by 251.6% during the 2nd quarter. Ffcm LLC now owns 5,052 shares of the company’s stock valued at $120,000 after acquiring an additional 3,615 shares during the last quarter. Financial Architects Inc boosted its position in shares of Macy’s by 254.5% during the 2nd quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock valued at $136,000 after acquiring an additional 4,200 shares during the last quarter. Edge Wealth Management LLC bought a new position in shares of Macy’s during the 2nd quarter valued at approximately $142,000. Finally, Pacer Advisors Inc. boosted its position in shares of Macy’s by 3.2% during the 1st quarter. Pacer Advisors Inc. now owns 6,500 shares of the company’s stock valued at $193,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 81.69% of the company’s stock.
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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